1 00:00:01,800 --> 00:00:06,040 Speaker 1: Law and from our nation's capital. This is Bloomberg Sound on. 2 00:00:06,640 --> 00:00:09,040 Speaker 1: The parties are divided in terms of the effect that 3 00:00:09,080 --> 00:00:11,959 Speaker 1: the stimulus is going to have. This inflation debate has 4 00:00:12,039 --> 00:00:14,880 Speaker 1: really been heating up the effect of what the Biden 5 00:00:14,880 --> 00:00:20,360 Speaker 1: administration is spending on political capital. Bloomberg Sound on the insiders, 6 00:00:20,440 --> 00:00:24,079 Speaker 1: the influencers, the insights, A group of centrists are the 7 00:00:24,200 --> 00:00:27,200 Speaker 1: key senators to watch Jill side and get. Number one 8 00:00:27,280 --> 00:00:31,000 Speaker 1: focus in addition to the COVID health crisis is jobs. 9 00:00:31,080 --> 00:00:33,760 Speaker 1: I don't quickly a red roads and blue roads, and 10 00:00:33,800 --> 00:00:36,519 Speaker 1: that's the way we're looking at this. Schoomberg Sound On 11 00:00:36,920 --> 00:00:42,000 Speaker 1: with Kevin Sireli on Bloomberg Radio. My name is Kevin Cirelli. 12 00:00:42,080 --> 00:00:45,760 Speaker 1: I am the chief Washington correspondent for Bloomberg Television and 13 00:00:45,920 --> 00:00:49,440 Speaker 1: for Bloomberg Radio. Great show tonight, but let's head right 14 00:00:49,479 --> 00:00:53,000 Speaker 1: to the White House to talk about Job's day. Headline 15 00:00:53,000 --> 00:00:57,040 Speaker 1: in my Bloomberg terminal, US job growth surges past estimates. 16 00:00:57,320 --> 00:01:01,560 Speaker 1: Unemployment dips to six point two per sense. US employers 17 00:01:01,560 --> 00:01:05,200 Speaker 1: added more jobs than forecast in February. How's that for 18 00:01:05,240 --> 00:01:09,920 Speaker 1: some Friday optimism? And the unemployment rate declined, suggesting that 19 00:01:09,959 --> 00:01:14,200 Speaker 1: the labor market is calawing its way forward again following 20 00:01:14,360 --> 00:01:18,280 Speaker 1: several disappointing months. We had right to the White House 21 00:01:18,280 --> 00:01:21,839 Speaker 1: where Baratt Ram Emerty is joining us. He, of course, 22 00:01:22,080 --> 00:01:26,600 Speaker 1: is the Deputy director of the White House National Economic Council. Baratt, 23 00:01:26,680 --> 00:01:28,640 Speaker 1: it's great to chat with you, all right, dive into 24 00:01:28,680 --> 00:01:32,080 Speaker 1: the numbers. What are you seeing that is digging deeper 25 00:01:32,120 --> 00:01:36,160 Speaker 1: than just the top line numbers? Sure? So, obviously it 26 00:01:36,240 --> 00:01:38,240 Speaker 1: was a very good jobs report. We're always happy to 27 00:01:38,280 --> 00:01:41,720 Speaker 1: see more folks being employed. If you look under the hut, 28 00:01:41,760 --> 00:01:44,959 Speaker 1: though there's some concerning elements number one, It's important to 29 00:01:45,000 --> 00:01:48,000 Speaker 1: remember what a big hole we're in. Even with this 30 00:01:48,080 --> 00:01:50,880 Speaker 1: positive jobs number today, we are nine point five million 31 00:01:50,920 --> 00:01:54,240 Speaker 1: jobs short where we were pre pandemic. And even if 32 00:01:54,240 --> 00:01:56,520 Speaker 1: we grow month after months at the rate of this 33 00:01:56,640 --> 00:01:58,840 Speaker 1: last month we will, we won't get back to that 34 00:01:58,920 --> 00:02:02,240 Speaker 1: employment number for more than two years. And so that's 35 00:02:02,280 --> 00:02:04,800 Speaker 1: why the President has been so focused on passing this 36 00:02:04,840 --> 00:02:07,600 Speaker 1: American Rescue Plan through Congress. We need to speed up 37 00:02:07,640 --> 00:02:10,079 Speaker 1: that process. We need to get these jobs back quicker 38 00:02:10,560 --> 00:02:12,600 Speaker 1: because we can't afford to wait more than two years 39 00:02:12,600 --> 00:02:15,440 Speaker 1: to get back to where we were of January last year. 40 00:02:15,600 --> 00:02:17,280 Speaker 1: You know, broad. I gotta be honest here. I've been 41 00:02:17,320 --> 00:02:20,280 Speaker 1: covering Jobs Day for nearly a decade, and it's not 42 00:02:20,320 --> 00:02:24,040 Speaker 1: all the time you get someone so honest from the administration, 43 00:02:24,160 --> 00:02:27,400 Speaker 1: really being forthright about these numbers. And I mean, he's 44 00:02:27,400 --> 00:02:29,440 Speaker 1: absolutely right, folks. I mean it's gonna take a couple 45 00:02:29,440 --> 00:02:31,600 Speaker 1: of years to get back to where we were pre pandemic. 46 00:02:31,880 --> 00:02:34,399 Speaker 1: You put it through the prism of the stimulus, something 47 00:02:34,440 --> 00:02:38,120 Speaker 1: that we've been covering very closely here on this program 48 00:02:38,120 --> 00:02:40,920 Speaker 1: in particular. But are you Are you optimistic that the 49 00:02:40,960 --> 00:02:43,480 Speaker 1: stimulus is nearing the finish line, especially as they're gonna 50 00:02:43,480 --> 00:02:45,840 Speaker 1: be working it looks like in the Senate all weekend 51 00:02:45,840 --> 00:02:50,200 Speaker 1: to get it past. Yeah, we're optimistic. Obviously, the legislative 52 00:02:50,240 --> 00:02:53,040 Speaker 1: processes is how it works. People negotiate, there's some votes 53 00:02:53,080 --> 00:02:57,079 Speaker 1: on amendments, Senators and Congressmen talk talk about the details 54 00:02:57,080 --> 00:03:00,440 Speaker 1: and hash out some compromises. That's what inevitably happens. But 55 00:03:00,800 --> 00:03:03,799 Speaker 1: we are quite optimistic that we are nearing the finish 56 00:03:03,840 --> 00:03:06,400 Speaker 1: line here. And I just want to underscore what's that 57 00:03:06,600 --> 00:03:10,000 Speaker 1: fake You know, once this bill passes. If this bill passes, 58 00:03:10,520 --> 00:03:13,880 Speaker 1: we will cut child poverty in half this year. Uh, 59 00:03:13,960 --> 00:03:17,040 Speaker 1: you know, hundreds more than a hundred million households will 60 00:03:17,080 --> 00:03:22,320 Speaker 1: receive stimulus check. We'll be getting rental assistance to seven 61 00:03:22,320 --> 00:03:26,120 Speaker 1: million people who are behind on their rent and facing eviction. Uh, 62 00:03:26,160 --> 00:03:28,400 Speaker 1: there's there's even more than that. And so there's some 63 00:03:28,440 --> 00:03:30,600 Speaker 1: really concrete things that stake in this package, and it's 64 00:03:30,639 --> 00:03:33,399 Speaker 1: just imperative that we get it across the finish line 65 00:03:33,400 --> 00:03:36,480 Speaker 1: and start delivering reliefs. Two people. You know, I think 66 00:03:36,480 --> 00:03:39,320 Speaker 1: it's fascinating to hear the spin on both sides of 67 00:03:39,360 --> 00:03:41,040 Speaker 1: the aisle up on Capitol Hill. I know you're an 68 00:03:41,040 --> 00:03:44,120 Speaker 1: economist and you don't want to step into the back 69 00:03:44,120 --> 00:03:46,760 Speaker 1: and forth mud slinging, so to speak. But just to 70 00:03:46,840 --> 00:03:48,880 Speaker 1: stick to the numbers a little bit, to dig deeper 71 00:03:48,880 --> 00:03:52,280 Speaker 1: into this job's data. The report adds to recent evidence, 72 00:03:52,320 --> 00:03:56,320 Speaker 1: including data on manufacturing and retail sales, that the economy 73 00:03:56,400 --> 00:03:59,800 Speaker 1: is gaining momentum. High frequency data have also shown a 74 00:04:00,000 --> 00:04:05,000 Speaker 1: aditional improvement, including an uptick in restaurant bookings. The yield 75 00:04:05,000 --> 00:04:07,360 Speaker 1: on the Tenderer treasury note advanced the highest and more 76 00:04:07,360 --> 00:04:10,880 Speaker 1: than a year following the report, but many economists expect 77 00:04:10,880 --> 00:04:14,080 Speaker 1: to see job prospects and economic growth improve in the 78 00:04:14,120 --> 00:04:18,640 Speaker 1: coming months. As vaccinations pick up in virus concerns ease further. 79 00:04:19,040 --> 00:04:22,479 Speaker 1: I guess I want to ask, in particular, how do 80 00:04:22,560 --> 00:04:26,120 Speaker 1: you make sure that the comeback, the economic comeback over 81 00:04:26,160 --> 00:04:31,600 Speaker 1: the next two years is equal, especially for unfortunately minority 82 00:04:31,680 --> 00:04:35,400 Speaker 1: groups that have been just pummeled as a result of 83 00:04:35,400 --> 00:04:39,680 Speaker 1: the economic calamity of the pandemic. I'm really glad you 84 00:04:39,680 --> 00:04:42,159 Speaker 1: you asked about this because it's a big focus of 85 00:04:42,240 --> 00:04:45,039 Speaker 1: the President and the vice president. It's one thing for 86 00:04:45,080 --> 00:04:47,520 Speaker 1: the top line numbers to recover. It's another thing if 87 00:04:47,760 --> 00:04:50,120 Speaker 1: if you look under the hood, there are certain big 88 00:04:50,120 --> 00:04:52,400 Speaker 1: groups that are getting left behind. And you look at 89 00:04:52,400 --> 00:04:55,039 Speaker 1: the data. Uh. You know one thing that you notice, 90 00:04:55,080 --> 00:04:59,680 Speaker 1: the unemployment rate overall went down, but the unemployment rate, uh, 91 00:05:00,040 --> 00:05:02,680 Speaker 1: the black unemployment rate went up. Uh, you know, nearly 92 00:05:02,680 --> 00:05:06,640 Speaker 1: a percentage point. Uh. You look at the data. Uh, 93 00:05:06,760 --> 00:05:08,480 Speaker 1: more than two million women have dropped out of the 94 00:05:08,560 --> 00:05:13,360 Speaker 1: labor force in the last year, and that's overwhelmingly black 95 00:05:13,440 --> 00:05:18,360 Speaker 1: and Hispanic women. We've lost a million one million local 96 00:05:18,800 --> 00:05:23,760 Speaker 1: educator jobs, so teachers, uh, since last year. And so uh, 97 00:05:23,800 --> 00:05:26,000 Speaker 1: you know, building back better, which is what the President 98 00:05:26,000 --> 00:05:29,680 Speaker 1: has talked about. It involves making sure that those groups uh, 99 00:05:29,960 --> 00:05:33,200 Speaker 1: get get get the recovery to not just not just 100 00:05:33,360 --> 00:05:37,359 Speaker 1: you know, up upper upper income Americans. And so a 101 00:05:37,400 --> 00:05:40,000 Speaker 1: lot of the President's plan is dedicated to making sure 102 00:05:40,000 --> 00:05:42,520 Speaker 1: that those groups number one get released in the short term, 103 00:05:42,800 --> 00:05:45,840 Speaker 1: but number two are are going to be beneficiaries of 104 00:05:45,880 --> 00:05:47,960 Speaker 1: a growing economy. And there's gonna be just one example 105 00:05:48,000 --> 00:05:51,440 Speaker 1: of that that the President's plan includes U s bificent 106 00:05:51,440 --> 00:05:53,719 Speaker 1: the amount of money for state and local governments, many 107 00:05:53,760 --> 00:05:57,960 Speaker 1: of whom have been facing big revenue losses because of COVID. Uh. 108 00:05:58,040 --> 00:06:01,880 Speaker 1: You know, black in his workers are disproportionately likely to 109 00:06:01,920 --> 00:06:05,000 Speaker 1: work at the state local government level, and and the 110 00:06:05,040 --> 00:06:07,560 Speaker 1: layoffs that we're seeing among state and local government workers 111 00:06:07,800 --> 00:06:10,760 Speaker 1: are are hitting those groups hardest. So in order to 112 00:06:10,760 --> 00:06:12,760 Speaker 1: get a comeback at the state local level, that's going 113 00:06:12,800 --> 00:06:16,560 Speaker 1: to help a lot of black and Hispanic workers that 114 00:06:16,600 --> 00:06:19,000 Speaker 1: we've been talking about. So look, there there is a 115 00:06:19,520 --> 00:06:22,760 Speaker 1: Uh it's always good to see top line level improvements. 116 00:06:22,839 --> 00:06:25,760 Speaker 1: We're glad to see the job number taking up, but 117 00:06:26,440 --> 00:06:29,599 Speaker 1: to have an equitable recovery is a critical priority of hours, 118 00:06:29,640 --> 00:06:32,080 Speaker 1: and that's why you need the kind of stimulus package 119 00:06:32,080 --> 00:06:33,960 Speaker 1: that that the President has been pushing for. Well and 120 00:06:34,000 --> 00:06:37,680 Speaker 1: even digging deeper to your point, and Barot Ram Emercy's 121 00:06:37,720 --> 00:06:39,839 Speaker 1: with us. He is the deputy director of the White 122 00:06:39,839 --> 00:06:43,560 Speaker 1: House National Economic Council. UH. To crunch the numbers here, 123 00:06:43,600 --> 00:06:46,160 Speaker 1: the U six unemployment rate, which is considered a more 124 00:06:46,200 --> 00:06:49,880 Speaker 1: accurate measure of joblessness by by some economists, that held 125 00:06:50,400 --> 00:06:53,960 Speaker 1: at eleven point one percent. Unlike the headline unemployment rate, 126 00:06:54,200 --> 00:06:57,160 Speaker 1: the U six rate includes those who are employed part 127 00:06:57,200 --> 00:07:00,000 Speaker 1: time for economic reasons and those who have stopped looking 128 00:07:00,080 --> 00:07:03,360 Speaker 1: for a job because they are discouraged some economic economic 129 00:07:03,400 --> 00:07:06,560 Speaker 1: analysis appointed to the U six today. But even beyond this, 130 00:07:06,680 --> 00:07:10,640 Speaker 1: I mean, you alluded to this bifat, but uh, the 131 00:07:10,760 --> 00:07:15,200 Speaker 1: unemployment rate for Black Americans rose in February while falling 132 00:07:15,240 --> 00:07:18,440 Speaker 1: for white, Asian and Hispanic Americans. And it just speaks 133 00:07:18,480 --> 00:07:20,400 Speaker 1: to your point about making sure that the comeback is 134 00:07:20,440 --> 00:07:23,960 Speaker 1: equal for all groups of Americans. But that's a really 135 00:07:24,000 --> 00:07:26,120 Speaker 1: tough I mean, how do you how do you target 136 00:07:26,200 --> 00:07:30,440 Speaker 1: that for to make sure that that especially not just 137 00:07:30,880 --> 00:07:33,320 Speaker 1: not just part time jobs, but good paying jobs come 138 00:07:33,360 --> 00:07:37,800 Speaker 1: back for all groups of Americans. Yeah, so you know, look, 139 00:07:37,840 --> 00:07:42,760 Speaker 1: there there are certain sectors of the economy where we know, uh, 140 00:07:42,800 --> 00:07:45,120 Speaker 1: the recovery might take a little bit longer, or that 141 00:07:45,120 --> 00:07:47,400 Speaker 1: those companies have been hardest. H Right, restaurants and bars 142 00:07:47,440 --> 00:07:51,080 Speaker 1: as a as a classic example. Uh, you look at 143 00:07:51,080 --> 00:07:53,800 Speaker 1: that that that drives a lot of the job losses 144 00:07:53,840 --> 00:07:56,560 Speaker 1: that we've seen in the last year. You know, the 145 00:07:56,600 --> 00:07:58,880 Speaker 1: American the American Rescue Plan that the President is pushing 146 00:07:58,880 --> 00:08:04,080 Speaker 1: for uhlud dollars specifically four restaurants and bars in grants, 147 00:08:04,200 --> 00:08:06,200 Speaker 1: right to get people, to make sure that the doors 148 00:08:06,200 --> 00:08:08,880 Speaker 1: to open, to get people back to work, and so 149 00:08:08,920 --> 00:08:10,600 Speaker 1: that we can get through this crisis and come out 150 00:08:10,640 --> 00:08:14,560 Speaker 1: the other side in strong shape. Um. You know, we 151 00:08:14,600 --> 00:08:17,600 Speaker 1: are trying to make sure that, uh, we're creating a 152 00:08:17,640 --> 00:08:19,920 Speaker 1: bridge to the other side of the pandemic, but at 153 00:08:19,920 --> 00:08:24,320 Speaker 1: the same time putting in the support so that companies 154 00:08:24,360 --> 00:08:26,640 Speaker 1: and people can come out the other side stronger. There's 155 00:08:26,720 --> 00:08:29,840 Speaker 1: a lot of small business money in this bill, and 156 00:08:29,920 --> 00:08:32,720 Speaker 1: I think that is intended to write working capital for 157 00:08:32,800 --> 00:08:36,520 Speaker 1: small businesses so that, you know, come the summer into 158 00:08:36,559 --> 00:08:39,520 Speaker 1: the fall, they can make capital investments, they can grow, 159 00:08:40,120 --> 00:08:42,200 Speaker 1: they can expand, and that's what we want to see. 160 00:08:42,240 --> 00:08:44,320 Speaker 1: We want to see a thriving small business sector that's 161 00:08:44,520 --> 00:08:47,560 Speaker 1: employing people in their communities. All Right, I gotta I 162 00:08:47,600 --> 00:08:50,200 Speaker 1: gotta just add this in here for those who don't 163 00:08:50,240 --> 00:08:53,000 Speaker 1: know the sparat raa Murty. He actually used to work 164 00:08:53,040 --> 00:08:55,400 Speaker 1: for another guest of this program that we had on 165 00:08:55,440 --> 00:08:58,880 Speaker 1: earlier this week, Senator Elizabeth Warren. But that's not actually 166 00:08:58,920 --> 00:09:01,119 Speaker 1: the name drop that I want to do for you, Barat. 167 00:09:01,160 --> 00:09:03,680 Speaker 1: I just learned this. It's right in front of my face. 168 00:09:03,760 --> 00:09:06,200 Speaker 1: I never knew this about you, sir. You were an 169 00:09:06,240 --> 00:09:09,040 Speaker 1: intern in the legal department of the Boston Red Sox. 170 00:09:09,280 --> 00:09:12,640 Speaker 1: I'm the Phillies fan. Who would have thought that you're 171 00:09:12,800 --> 00:09:15,040 Speaker 1: you know that that must have been a fun internship. 172 00:09:16,280 --> 00:09:18,080 Speaker 1: It was a great year. It was two thousand seven. 173 00:09:18,120 --> 00:09:20,800 Speaker 1: We the Red Sox won the World Series. Wow, that's 174 00:09:20,840 --> 00:09:26,520 Speaker 1: a great year, all right, But kidding a side, well 175 00:09:26,559 --> 00:09:29,040 Speaker 1: not for your career, but maybe for the Red Sox. 176 00:09:29,200 --> 00:09:32,120 Speaker 1: But getting aside, But get this interview back on track, 177 00:09:32,200 --> 00:09:35,280 Speaker 1: Kevits Friday, Come on, buddy, but you just I put 178 00:09:35,320 --> 00:09:37,320 Speaker 1: this question to every policy maker that that I've had 179 00:09:37,360 --> 00:09:38,800 Speaker 1: on this weekend, and I want to put it to you, 180 00:09:39,000 --> 00:09:41,040 Speaker 1: and it's really no laughing matter. You talked about building 181 00:09:41,040 --> 00:09:43,880 Speaker 1: a bridge, and everyone wants to do that. Everyone has 182 00:09:43,960 --> 00:09:46,800 Speaker 1: different ideas for for how to do that. But if 183 00:09:46,840 --> 00:09:50,120 Speaker 1: we're building an economic bridge, we have to make sure 184 00:09:50,160 --> 00:09:52,600 Speaker 1: that where that bridge leads that it's a it's an 185 00:09:52,600 --> 00:09:56,679 Speaker 1: economy where there's an industries that quite frankly, those industries 186 00:09:56,760 --> 00:09:59,080 Speaker 1: might not come back after the pandemic. So how do 187 00:09:59,160 --> 00:10:01,800 Speaker 1: we make sure that for those Americans who have jobs 188 00:10:02,400 --> 00:10:04,960 Speaker 1: and before the pandemic and industries that aren't going to 189 00:10:04,960 --> 00:10:08,280 Speaker 1: come back, that there are opportunities for them and equal 190 00:10:08,280 --> 00:10:13,120 Speaker 1: opportunities for them in the new post pandemic economy. Right, 191 00:10:13,200 --> 00:10:15,200 Speaker 1: So the President has made clear that this is a 192 00:10:15,200 --> 00:10:17,720 Speaker 1: two step process. Step one is this bill that he's 193 00:10:17,840 --> 00:10:21,960 Speaker 1: pushing through Congress right now, which is about providing immediate relief, 194 00:10:22,120 --> 00:10:26,679 Speaker 1: about providing support for distributing, distributing vaccines, getting our schools open, 195 00:10:27,000 --> 00:10:29,520 Speaker 1: these kinds of the media problems that way that we 196 00:10:29,520 --> 00:10:32,240 Speaker 1: need to address. Step two, which he's talked about and 197 00:10:32,240 --> 00:10:36,000 Speaker 1: that he campaigned on, is his Built Back Better Agenda, right, 198 00:10:37,080 --> 00:10:44,400 Speaker 1: transformative big investments in infrastructure, American manufacturing, the care economy, 199 00:10:45,040 --> 00:10:48,400 Speaker 1: in housing, the kinds of investments that we've neglected for 200 00:10:48,440 --> 00:10:51,440 Speaker 1: far too long, and the kinds of investments that create good, 201 00:10:51,520 --> 00:10:54,640 Speaker 1: high paying jobs and position the U s economy for 202 00:10:54,720 --> 00:10:58,880 Speaker 1: long term success. Right broadband, for example, right connecting twenty 203 00:10:58,960 --> 00:11:02,440 Speaker 1: or thirty million people to high speed broadband internet. That 204 00:11:02,520 --> 00:11:04,839 Speaker 1: creates good jobs in the short term. It also creates 205 00:11:04,840 --> 00:11:07,400 Speaker 1: a more productive economy in the future as more people 206 00:11:07,400 --> 00:11:09,560 Speaker 1: can connect to the internet, start a business from home, 207 00:11:09,840 --> 00:11:13,160 Speaker 1: connect to the global economy. Right and and and these 208 00:11:13,240 --> 00:11:17,040 Speaker 1: kinds of transformative investments are our stage two of the 209 00:11:17,040 --> 00:11:19,880 Speaker 1: President's agenda. We obviously want to get this rescue built through, 210 00:11:20,520 --> 00:11:22,480 Speaker 1: and then we can start talking about the next step, 211 00:11:22,559 --> 00:11:26,000 Speaker 1: which is making these deep investments in the American economy 212 00:11:26,040 --> 00:11:29,600 Speaker 1: so we can position ourselves to be the world's leading 213 00:11:29,600 --> 00:11:32,240 Speaker 1: economy for for decades to come. All Right, we're gonna 214 00:11:32,240 --> 00:11:34,959 Speaker 1: have to leave there. Barat Barama Mercy, former intern for 215 00:11:35,000 --> 00:11:37,400 Speaker 1: the Boston Red Sox, and of course the deputy director 216 00:11:37,720 --> 00:11:40,640 Speaker 1: of the White House National Economic Council. Hey, thanks so 217 00:11:40,720 --> 00:11:42,240 Speaker 1: much for making time for me on a Friday. I 218 00:11:42,280 --> 00:11:45,560 Speaker 1: really appreciate it. On that job, say really important. Coming up, 219 00:11:45,840 --> 00:11:48,720 Speaker 1: we check in with the All Star Policy Pennel. Bloomberg 220 00:11:48,760 --> 00:11:52,600 Speaker 1: Politics contributors were Rick Davis and Jeanie shan Zano joined 221 00:11:52,640 --> 00:11:58,040 Speaker 1: me and another conversation with Congressman Brian style. You don't 222 00:11:58,040 --> 00:11:59,360 Speaker 1: want to miss that. You don't want to miss that 223 00:11:59,400 --> 00:12:03,360 Speaker 1: he's a republic can from Wisconsin were carefully followed following 224 00:12:03,480 --> 00:12:07,920 Speaker 1: multiple stories on up on Capitol Hill, including on the 225 00:12:07,960 --> 00:12:12,400 Speaker 1: stimulus Because President Biden made public appeals earlier today for 226 00:12:12,520 --> 00:12:16,160 Speaker 1: passage of that pandemic relief bill, he met with potential 227 00:12:16,240 --> 00:12:20,040 Speaker 1: recipients of stimulus checks and highlighted continuing damage in the 228 00:12:20,120 --> 00:12:24,440 Speaker 1: labor market. The Senate, meantime, was stalled in considering amendments 229 00:12:24,440 --> 00:12:28,920 Speaker 1: to the bill. Negotiations, mind you, among senators continued on 230 00:12:29,000 --> 00:12:33,200 Speaker 1: the details of supplemental jobless benefits. The lawmakers still expect 231 00:12:33,200 --> 00:12:36,959 Speaker 1: the legislation to pass in the Chamber sometime over the weekend. 232 00:12:36,960 --> 00:12:39,080 Speaker 1: I said it once and I'll say it again. Please 233 00:12:39,400 --> 00:12:42,760 Speaker 1: check us out on the Bloomberg Business app uh I 234 00:12:42,880 --> 00:12:46,800 Speaker 1: Heart Radio as well as on Spotify, iTunes, wherever you 235 00:12:46,880 --> 00:12:49,720 Speaker 1: listen to your podcast to your radio shows, and you 236 00:12:49,720 --> 00:12:52,160 Speaker 1: can catch up on all of the interviews and stellar 237 00:12:52,200 --> 00:12:54,400 Speaker 1: work that our entire team has put together. Let a 238 00:12:54,400 --> 00:12:58,760 Speaker 1: course by our EP Christine Barada. Much more policy and 239 00:12:58,920 --> 00:13:02,920 Speaker 1: politics coming up next. I'm Kevin Sirelli, Chief Washington correspondent 240 00:13:02,960 --> 00:13:08,560 Speaker 1: for Bloomberg TV. And Radio. This is Bloomberg. My name 241 00:13:08,800 --> 00:13:11,920 Speaker 1: is Kevin Sirelli. I am the chief Washington correspondent for 242 00:13:12,000 --> 00:13:16,560 Speaker 1: Bloomberg Television and for Bloomberg Radio. Accompanied by the Bloomberg 243 00:13:16,600 --> 00:13:21,240 Speaker 1: Politics team, Genie Shanzano and Rick Davis on a Friday, 244 00:13:21,320 --> 00:13:23,319 Speaker 1: I mean, I want to stay with this conversation about 245 00:13:23,559 --> 00:13:25,680 Speaker 1: what's happening up in the Senate. We just got a 246 00:13:25,679 --> 00:13:29,520 Speaker 1: White House dispatch from the Deputy Director of the National 247 00:13:29,640 --> 00:13:35,120 Speaker 1: Economic Council at the White House but Rott Ram Murty, Um, Genie. 248 00:13:35,480 --> 00:13:38,000 Speaker 1: But meanwhile up on Capitol Hill they're going to be 249 00:13:38,040 --> 00:13:40,200 Speaker 1: working all night. Talk about a lot of drama. But 250 00:13:40,320 --> 00:13:44,440 Speaker 1: still everyone's expecting that this ultimately gets passed. They are, 251 00:13:44,679 --> 00:13:47,280 Speaker 1: and I think it's worth noting both in your interview, 252 00:13:47,320 --> 00:13:49,559 Speaker 1: and we've heard from other people in the White House 253 00:13:49,640 --> 00:13:52,480 Speaker 1: that despite the fact we all expect this gets passed 254 00:13:52,559 --> 00:13:55,960 Speaker 1: by the narrowist of margins fifty one, the White House 255 00:13:55,960 --> 00:13:59,800 Speaker 1: seems concerned that this job's report may give the GOP, 256 00:14:00,080 --> 00:14:03,520 Speaker 1: maybe some moderates, fodder for pushing back on the size 257 00:14:03,559 --> 00:14:06,960 Speaker 1: of the bill. Um So they seem to be, you know, 258 00:14:07,000 --> 00:14:10,760 Speaker 1: wanting to underplay or downplay the numbers, you know, the 259 00:14:10,760 --> 00:14:12,679 Speaker 1: sort of the positive news that you read at the 260 00:14:12,720 --> 00:14:15,400 Speaker 1: top there, and so you know, I think there is 261 00:14:15,440 --> 00:14:18,000 Speaker 1: some concern there that while this looks to be done, 262 00:14:18,840 --> 00:14:21,560 Speaker 1: there is still chance, a little wiggle room there maybe 263 00:14:21,560 --> 00:14:23,680 Speaker 1: for Republicans to make chay out of this, and they're 264 00:14:23,680 --> 00:14:26,520 Speaker 1: pushing back against it. Yeah, it's a game of political poker. 265 00:14:26,680 --> 00:14:29,960 Speaker 1: Never in my years of covering job's day have I 266 00:14:30,000 --> 00:14:32,800 Speaker 1: ever seen an administration try to say it's a bad 267 00:14:32,880 --> 00:14:36,440 Speaker 1: jobs number. Just can even when it's a good jobs number. 268 00:14:36,480 --> 00:14:39,080 Speaker 1: And to your point, my colleague David Weston on Balance 269 00:14:39,080 --> 00:14:41,600 Speaker 1: of Power spoke with Heather Bousche, who's a member of 270 00:14:41,600 --> 00:14:44,760 Speaker 1: the President's Council of Economic Advisors. I mean this this 271 00:14:44,840 --> 00:14:47,480 Speaker 1: quote really just it's brilliant. I mean it just sums 272 00:14:47,560 --> 00:14:50,920 Speaker 1: up the all entire kitten kimboodle. Here's the sound on 273 00:14:50,960 --> 00:14:54,160 Speaker 1: this from Heather Busche. First of all, it's great that 274 00:14:54,200 --> 00:14:56,840 Speaker 1: people got jobs in February. That's that's important. We should 275 00:14:56,880 --> 00:14:59,720 Speaker 1: celebrate it. But I gotta tell you, you know, we 276 00:15:00,120 --> 00:15:03,480 Speaker 1: have the jobs deficit that we're in. It's about nine 277 00:15:03,560 --> 00:15:07,000 Speaker 1: point five million jobs over the past year. That is 278 00:15:07,040 --> 00:15:09,840 Speaker 1: a bigger deficit than we saw in the deepest, darkest 279 00:15:09,880 --> 00:15:12,560 Speaker 1: days of the Great Recession. So while this was, you know, 280 00:15:12,600 --> 00:15:15,160 Speaker 1: a good report in some ways it is we are 281 00:15:15,240 --> 00:15:17,680 Speaker 1: certainly not out of the woods yet, and there remains 282 00:15:17,760 --> 00:15:21,120 Speaker 1: significant challenges facing the US economy and particularly facing the 283 00:15:21,200 --> 00:15:24,000 Speaker 1: US labor market. Rick Davis, they want the whole kitten 284 00:15:24,000 --> 00:15:26,040 Speaker 1: cam bootle up on Capitol Hill to try to get 285 00:15:26,040 --> 00:15:30,000 Speaker 1: to that stimulus one point nine trillion dollars and not 286 00:15:30,200 --> 00:15:33,880 Speaker 1: one penny less. Uh. Yeah, they they're fighting it hard, 287 00:15:33,920 --> 00:15:39,080 Speaker 1: they're all out. The President's Economic Council has been working 288 00:15:39,200 --> 00:15:42,400 Speaker 1: overtime today to exercise that same message. And look, I 289 00:15:42,400 --> 00:15:45,440 Speaker 1: mean realistically, anybody who's taken a victory lap on the 290 00:15:45,520 --> 00:15:50,120 Speaker 1: economy is premature. So yes, good jobs report. Still nine 291 00:15:50,160 --> 00:15:53,360 Speaker 1: and a half million people unemployed, higher and minority communities 292 00:15:53,400 --> 00:15:56,080 Speaker 1: and distress areas, a lot of work to get people 293 00:15:56,120 --> 00:15:59,920 Speaker 1: back to where they were before COVID. Uh. And we'll 294 00:16:00,000 --> 00:16:01,760 Speaker 1: see what comes out of the Senate. There's a lot 295 00:16:01,800 --> 00:16:03,880 Speaker 1: of as you say, poker going on, a lot of 296 00:16:03,920 --> 00:16:06,960 Speaker 1: a lot of trading in projects right now on Capitol 297 00:16:07,040 --> 00:16:09,560 Speaker 1: Hill in the United States Senate. So, um, there will 298 00:16:09,600 --> 00:16:12,640 Speaker 1: be a big stimulus package, as you say, votes say 299 00:16:12,640 --> 00:16:15,840 Speaker 1: so and uh, and we'll see what what changes in 300 00:16:15,880 --> 00:16:18,360 Speaker 1: the bill happened? You know, when the dust settles. Rick, 301 00:16:18,440 --> 00:16:20,480 Speaker 1: you did not use the phrase of the hour kitten 302 00:16:20,520 --> 00:16:25,640 Speaker 1: caboodle in terms of describing this. I promised my children 303 00:16:25,680 --> 00:16:28,040 Speaker 1: I would never use that. I'm an old soul, Rick, 304 00:16:30,720 --> 00:16:32,680 Speaker 1: I'm not gonna say that. Sounds like a bunch of 305 00:16:32,680 --> 00:16:37,360 Speaker 1: a larkey to me. It's definitely Friday here. Um No. 306 00:16:37,760 --> 00:16:40,320 Speaker 1: And it's fascinating your you know, Wes Rick is talking 307 00:16:40,320 --> 00:16:43,840 Speaker 1: about one point nine trillion dollars. And to go back 308 00:16:43,880 --> 00:16:48,520 Speaker 1: to to your discussion, Kevin, the we not only heard about, 309 00:16:48,640 --> 00:16:51,320 Speaker 1: you know, sort of concern that this gets through, but 310 00:16:51,400 --> 00:16:53,200 Speaker 1: what did he say? This is the first in a 311 00:16:53,280 --> 00:16:57,040 Speaker 1: two step process of what he described and we heard 312 00:16:57,040 --> 00:16:59,120 Speaker 1: this on the campaign trail to his point of this 313 00:16:59,200 --> 00:17:05,560 Speaker 1: build back back or agenda with transformative investments in infrastructure, housing, broadband, 314 00:17:05,920 --> 00:17:10,000 Speaker 1: And I kept I keep asking myself where does this 315 00:17:10,080 --> 00:17:13,280 Speaker 1: money come from? And is there the political will? Because 316 00:17:13,560 --> 00:17:17,160 Speaker 1: if this one point nine trillion isn't enough, are we 317 00:17:17,200 --> 00:17:19,119 Speaker 1: going to you know, be are they going to have 318 00:17:19,200 --> 00:17:23,679 Speaker 1: the political will moderate Democrats even to jump onto another 319 00:17:23,720 --> 00:17:26,159 Speaker 1: bill right after this? I have real questions about So 320 00:17:26,240 --> 00:17:30,000 Speaker 1: this morning after uh I watched Jared Bird's you know 321 00:17:30,040 --> 00:17:33,080 Speaker 1: the White House speak to our our colleague Jonathan Farrell. 322 00:17:33,480 --> 00:17:36,480 Speaker 1: I picked up the film because what you just said 323 00:17:36,480 --> 00:17:38,760 Speaker 1: made me think of this, and I called the former 324 00:17:38,800 --> 00:17:42,720 Speaker 1: Press secretary to Bernie Bernie Sanders on his presidential campaign, 325 00:17:42,720 --> 00:17:45,080 Speaker 1: and I said, you know what's going on, Brihanna, Like 326 00:17:45,119 --> 00:17:47,000 Speaker 1: what what? What's the what's the lay of the land 327 00:17:47,040 --> 00:17:50,639 Speaker 1: amongst the democratic socialist crowd, And they're to say that 328 00:17:50,680 --> 00:17:53,600 Speaker 1: they're frustrated as an understatement at this minimum wage issue, 329 00:17:54,160 --> 00:17:57,119 Speaker 1: and they feel that the White House and that Senate 330 00:17:57,160 --> 00:18:00,919 Speaker 1: Democrats and Speaker Pelosi did not fight for them that 331 00:18:01,000 --> 00:18:03,040 Speaker 1: they I mean, I guess Speaker Pelosi did, but especially 332 00:18:03,040 --> 00:18:05,840 Speaker 1: in the Senate, that they didn't fight for them on 333 00:18:05,880 --> 00:18:10,080 Speaker 1: the minimum wage issue. Now, Jared Bernstein told Pharaoh that 334 00:18:10,680 --> 00:18:13,520 Speaker 1: this was something that Bernstein has been working on for years, 335 00:18:13,560 --> 00:18:17,680 Speaker 1: that President Biden remains committed to. But that message hasn't resonated. 336 00:18:17,720 --> 00:18:19,800 Speaker 1: Based upon the conversations and the interviews that I was 337 00:18:19,800 --> 00:18:24,159 Speaker 1: gathering throughout the day amongst those grassroots progressives, take a 338 00:18:24,160 --> 00:18:27,040 Speaker 1: listen to the sounds on this particular issue from Senator 339 00:18:27,080 --> 00:18:30,600 Speaker 1: Bernie Sanders, who spoke earlier today and called it absurd 340 00:18:31,040 --> 00:18:35,240 Speaker 1: that a Senate parliamentarian who's unelected says that it can't 341 00:18:35,240 --> 00:18:38,120 Speaker 1: be done to include the minimum wage in this Frankly, 342 00:18:38,240 --> 00:18:42,120 Speaker 1: it is disgraceful. The Congress has not passed an increase 343 00:18:42,160 --> 00:18:45,840 Speaker 1: in the minimal wage since two thousand and seven. It 344 00:18:45,960 --> 00:18:50,600 Speaker 1: is an absurd process that we allow an unelected staff 345 00:18:50,680 --> 00:18:53,919 Speaker 1: of somebody who works for the Senate, not elected by anybody, 346 00:18:53,920 --> 00:18:58,000 Speaker 1: to make a decision as to whether thirty million Americans 347 00:18:58,000 --> 00:19:02,920 Speaker 1: get a pay raise or not. The last time, actually, Rick, 348 00:19:02,920 --> 00:19:04,800 Speaker 1: do you know when the last time was that Congress 349 00:19:04,840 --> 00:19:08,200 Speaker 1: fired the Senate parliamentarian fired the Senate parliamentary. No, I 350 00:19:08,240 --> 00:19:10,480 Speaker 1: thought you were gonna say two thousand nine was when 351 00:19:10,520 --> 00:19:12,879 Speaker 1: the last time they approved a minimum wage bill. But 352 00:19:14,880 --> 00:19:19,639 Speaker 1: in the nineties, Well, parliamentarians uphold the rules. And what 353 00:19:19,640 --> 00:19:22,800 Speaker 1: what Bernie is saying is, let's not play by the rules. 354 00:19:22,800 --> 00:19:24,440 Speaker 1: Hold on, let's hold her right there, because we're gonna 355 00:19:24,480 --> 00:19:26,720 Speaker 1: talk about this coming up. Next. Panel is gonna stay 356 00:19:26,760 --> 00:19:29,160 Speaker 1: but with much more fricking Genie. I'm Kevin's really, this 357 00:19:30,000 --> 00:19:32,399 Speaker 1: is Bloomberg. My name is Kevin cur Really, I'm the 358 00:19:32,480 --> 00:19:36,640 Speaker 1: chief Washington correspondent for Bloomberg TV and Radio. And I'm 359 00:19:36,640 --> 00:19:41,199 Speaker 1: a companied by Bloomberg Politics contributor Rick Davis and Genie 360 00:19:41,200 --> 00:19:46,600 Speaker 1: Sean David, Genie Sean Zay No, sorry that about that, Genie. 361 00:19:46,760 --> 00:19:50,399 Speaker 1: It's it's Friday. But we are accompanied by Congressman Brian's Style. 362 00:19:50,600 --> 00:19:54,480 Speaker 1: He is a Republican from Wisconsin. Congressman's great to have 363 00:19:54,520 --> 00:19:56,680 Speaker 1: you on Friday. Earlier, we checked in with the White 364 00:19:56,720 --> 00:20:00,320 Speaker 1: House on the job's data number. I take you have 365 00:20:00,359 --> 00:20:03,840 Speaker 1: a different interpretation. They were saying that the jobs data 366 00:20:03,920 --> 00:20:06,760 Speaker 1: means we need more stimulus. Do you agree with that? 367 00:20:08,200 --> 00:20:10,280 Speaker 1: I think what we're seeing is one of the lowest 368 00:20:10,359 --> 00:20:14,560 Speaker 1: labor participation raids since the Carter administration hanging out around. 369 00:20:15,880 --> 00:20:18,600 Speaker 1: What that's telling me is that lots of moms and 370 00:20:18,680 --> 00:20:21,240 Speaker 1: dads out there aren't able to get back into the 371 00:20:21,240 --> 00:20:24,199 Speaker 1: workforce because far too many of our schools are not 372 00:20:24,320 --> 00:20:27,800 Speaker 1: allowing students to attend in person five days a week. 373 00:20:27,840 --> 00:20:30,040 Speaker 1: I think the number one thing we could do for 374 00:20:30,080 --> 00:20:32,680 Speaker 1: the labor for the labor market right now is get 375 00:20:32,760 --> 00:20:35,840 Speaker 1: children back in school safely, free up those moms and 376 00:20:35,920 --> 00:20:40,200 Speaker 1: dads returned to the return to the workforce. Okay, Congressmen, 377 00:20:40,400 --> 00:20:43,920 Speaker 1: So in terms of where this fight goes though. I mean, 378 00:20:44,040 --> 00:20:48,719 Speaker 1: it's looking increasingly likely that this will pass the Senate 379 00:20:48,760 --> 00:20:52,240 Speaker 1: and President Biden will will sign it. But the next 380 00:20:52,320 --> 00:20:56,000 Speaker 1: fight is infrastructure. How much money are you are you 381 00:20:56,000 --> 00:20:58,960 Speaker 1: willing to spend and and is the Republican Party willing 382 00:20:59,000 --> 00:21:01,240 Speaker 1: to spend on an infat structure plan or is the 383 00:21:01,240 --> 00:21:04,760 Speaker 1: appetite simply not there. What we need to do is 384 00:21:04,760 --> 00:21:07,480 Speaker 1: have an adult conversation on the other side of the ledger. 385 00:21:07,560 --> 00:21:09,480 Speaker 1: And what I mean by that is, I think they're 386 00:21:09,560 --> 00:21:13,320 Speaker 1: broad Bipartistan understanding that there's a need to invest in 387 00:21:13,320 --> 00:21:16,680 Speaker 1: infrastructure in the United States. What we're refusing to do 388 00:21:17,200 --> 00:21:19,239 Speaker 1: is have a conversation about how to pay for it. 389 00:21:19,240 --> 00:21:22,159 Speaker 1: There's really five levels to pay for infrastructure. You can 390 00:21:22,240 --> 00:21:25,199 Speaker 1: raise taxes generally, you can have a user fee, you 391 00:21:25,240 --> 00:21:29,080 Speaker 1: can cut spending elsewhere, you're can have private sector investment 392 00:21:29,160 --> 00:21:31,440 Speaker 1: in the infrastructure, or you can do some sort of 393 00:21:31,440 --> 00:21:34,120 Speaker 1: a combination in the above. What we saw coming right 394 00:21:34,160 --> 00:21:37,560 Speaker 1: out of the gates on day one, Joe Biden kills 395 00:21:37,640 --> 00:21:40,920 Speaker 1: the Keystone pipeline. He's killing billions of dollars of private 396 00:21:40,960 --> 00:21:44,919 Speaker 1: sex sector infrastructure investment. We need to have that conversation 397 00:21:45,000 --> 00:21:47,120 Speaker 1: about how we're going to pay for it. And when 398 00:21:47,119 --> 00:21:50,800 Speaker 1: you have a one point nine trillion dollars spending bill 399 00:21:50,880 --> 00:21:53,399 Speaker 1: getting passed in the early morning of the hours in 400 00:21:53,400 --> 00:21:56,360 Speaker 1: the House, looking like it's going to fly through the 401 00:21:56,400 --> 00:21:59,840 Speaker 1: Senate as well, what it's really doing is crowding out 402 00:22:00,000 --> 00:22:03,200 Speaker 1: our ability to make the investments that we need in 403 00:22:03,200 --> 00:22:08,199 Speaker 1: infrastructure and job creating movements. Rather than what we're watching 404 00:22:08,200 --> 00:22:12,000 Speaker 1: the Biden administration do is spending debt for this bill, 405 00:22:12,359 --> 00:22:16,320 Speaker 1: spending debt going forward at some point with thirty trillion 406 00:22:16,400 --> 00:22:19,960 Speaker 1: dollars in national debt soon to hit the books, that's 407 00:22:20,000 --> 00:22:22,960 Speaker 1: crowding out our ability to invest in infrastructure. Later on, 408 00:22:23,400 --> 00:22:25,679 Speaker 1: Congressman Rick Davis, here if we can go back to 409 00:22:25,720 --> 00:22:28,040 Speaker 1: the keystone issue, because I think this is something that 410 00:22:28,080 --> 00:22:31,440 Speaker 1: obviously has had a big negative impact on job prospects 411 00:22:31,440 --> 00:22:34,200 Speaker 1: in your region. And here the administration claims are trying 412 00:22:34,240 --> 00:22:37,720 Speaker 1: to do everything they can to map out higher job employment, 413 00:22:37,960 --> 00:22:39,879 Speaker 1: but they seem to be picking winners and losers in 414 00:22:39,920 --> 00:22:41,679 Speaker 1: that fight. In other words, lots of money in the 415 00:22:41,720 --> 00:22:44,400 Speaker 1: stimulus bill for renewable energy, which is great, we ought 416 00:22:44,440 --> 00:22:46,320 Speaker 1: to have more of that in our cycle, but like, 417 00:22:46,400 --> 00:22:48,760 Speaker 1: why are we taking jobs off the table that are 418 00:22:48,760 --> 00:22:52,120 Speaker 1: already basically paid for in a period of time where 419 00:22:52,160 --> 00:22:54,200 Speaker 1: we need people to get to work. It was really 420 00:22:54,240 --> 00:22:57,000 Speaker 1: disheartening to see on day one Joe Biden, with the 421 00:22:57,000 --> 00:22:59,840 Speaker 1: strike of a pen, kill the Keystone pipeline. Is is 422 00:22:59,840 --> 00:23:04,120 Speaker 1: no did that's private sector investment in infrastructure is exactly 423 00:23:04,160 --> 00:23:06,920 Speaker 1: what we need, not only from a national security standpoint 424 00:23:06,960 --> 00:23:10,520 Speaker 1: of having a supply of North America oil and gas, 425 00:23:10,560 --> 00:23:14,119 Speaker 1: it's also jobs right here in North America where I 426 00:23:14,160 --> 00:23:16,840 Speaker 1: have the opportunity to be a voice for Southeast Wisconsin. 427 00:23:17,160 --> 00:23:19,600 Speaker 1: We make things. We make things that go to actually 428 00:23:19,640 --> 00:23:22,439 Speaker 1: create the pipelines. It's also men and women from the 429 00:23:22,480 --> 00:23:25,719 Speaker 1: state of Wisconsin who are going out to Montana, North Dakota, 430 00:23:25,800 --> 00:23:29,919 Speaker 1: South Dakota to actually build the pipeline in good family 431 00:23:30,000 --> 00:23:33,920 Speaker 1: supporting private sector jobs and exactly what you said, Joe 432 00:23:33,960 --> 00:23:38,440 Speaker 1: Biden is picking winners and losers by killing the Keystone 433 00:23:38,440 --> 00:23:43,040 Speaker 1: pipeline day one. It was incredibly disappointing when he did that. Congressman, 434 00:23:43,040 --> 00:23:46,639 Speaker 1: this is Genie Schanzano, and I know we have an 435 00:23:46,720 --> 00:23:50,040 Speaker 1: anniversary coming up this weekend of Bloody Sunday, and the 436 00:23:50,080 --> 00:23:54,080 Speaker 1: other day the House passed before the People Act and 437 00:23:54,160 --> 00:23:58,080 Speaker 1: You've spoken about your views on that UM, saying, amongst 438 00:23:58,080 --> 00:24:00,879 Speaker 1: other things, that it would legalize, uh, some of the 439 00:24:00,920 --> 00:24:04,040 Speaker 1: mistakes that your state made in the election. Can you 440 00:24:04,280 --> 00:24:06,400 Speaker 1: talk a little bit about what you would like to 441 00:24:06,440 --> 00:24:10,400 Speaker 1: see to restore faith in the electoral process. If it's 442 00:24:10,440 --> 00:24:15,440 Speaker 1: not this bill, well, this I call it for the politicians. 443 00:24:15,480 --> 00:24:18,560 Speaker 1: I mean it takes government money and added it into 444 00:24:18,960 --> 00:24:21,400 Speaker 1: our election system. I think we're best served when we 445 00:24:21,480 --> 00:24:24,760 Speaker 1: are running elections at the state and local level, not 446 00:24:25,000 --> 00:24:28,280 Speaker 1: nationalizing it like this bill. What I did I wrote 447 00:24:28,280 --> 00:24:30,800 Speaker 1: an op ed along with some of my colleagues from 448 00:24:30,800 --> 00:24:34,040 Speaker 1: the state of Wisconsin about what Wisconsin should do to 449 00:24:34,160 --> 00:24:37,080 Speaker 1: strengthen our elections, how we can end midnight ballot them, 450 00:24:37,400 --> 00:24:39,879 Speaker 1: about how we can clean up the voter rolls. And 451 00:24:39,920 --> 00:24:41,720 Speaker 1: so I think what we need to do is it 452 00:24:41,800 --> 00:24:44,840 Speaker 1: a state and local level, really dig in and figure 453 00:24:44,880 --> 00:24:48,520 Speaker 1: out how we enhance voter integrity, how we remove loopholes 454 00:24:48,840 --> 00:24:51,520 Speaker 1: to voter I D. What the Democrats put forward in 455 00:24:51,760 --> 00:24:54,760 Speaker 1: HR one, what I call for the Politicians Act, is 456 00:24:54,800 --> 00:24:58,399 Speaker 1: it actually got voter ID laws across the country. It 457 00:24:58,440 --> 00:25:01,359 Speaker 1: says anyone who to the polls in a state with 458 00:25:01,400 --> 00:25:03,800 Speaker 1: the voter I D luck can simply sign an AFFID 459 00:25:03,880 --> 00:25:06,719 Speaker 1: David saying who they claim to be. Would be as 460 00:25:06,760 --> 00:25:09,120 Speaker 1: if you and I went to the airport to catch 461 00:25:09,119 --> 00:25:12,240 Speaker 1: a flight from Milwaukee out to Washington, d C. You 462 00:25:12,400 --> 00:25:15,159 Speaker 1: forgot your voter you you forgot your I D and 463 00:25:15,200 --> 00:25:17,000 Speaker 1: you just said, well, let me just sign a sheet 464 00:25:17,000 --> 00:25:19,280 Speaker 1: of paper that says I am who I am. That 465 00:25:19,280 --> 00:25:21,800 Speaker 1: wouldn't be allowed to fly in an airplane. It shouldn't 466 00:25:21,840 --> 00:25:24,560 Speaker 1: be allowed in the process of voting. And so I 467 00:25:24,600 --> 00:25:27,000 Speaker 1: think we should be working to enhance the integrity of 468 00:25:27,040 --> 00:25:31,200 Speaker 1: our election, improve people's confidence in our election system, rather 469 00:25:31,280 --> 00:25:33,640 Speaker 1: than heading in the other direction, which I think HR 470 00:25:33,720 --> 00:25:36,080 Speaker 1: one does. Countress. So we got ninety seconds left, but 471 00:25:36,200 --> 00:25:37,479 Speaker 1: I do want to ask you about this. You are 472 00:25:37,480 --> 00:25:40,320 Speaker 1: a member of the House Financial Services Committee, uh, and 473 00:25:40,600 --> 00:25:42,679 Speaker 1: there's another hearing over the next couple of weeks on 474 00:25:42,800 --> 00:25:46,720 Speaker 1: Games Stop. After your the previous hearing on Games Stop. 475 00:25:47,480 --> 00:25:49,320 Speaker 1: Do you think that there needs to be any policy 476 00:25:49,440 --> 00:25:53,760 Speaker 1: changes or with regards to the trading freeze that occurred 477 00:25:54,000 --> 00:25:57,399 Speaker 1: just the other month. I think there's a handful of 478 00:25:57,440 --> 00:26:00,680 Speaker 1: policy things that we should be doing going forward. Representative 479 00:26:00,680 --> 00:26:03,720 Speaker 1: Anthony Gonzalez from Ohio and I are leading a letter 480 00:26:04,240 --> 00:26:07,160 Speaker 1: of this pushing forward on the shift from T plus 481 00:26:07,200 --> 00:26:10,040 Speaker 1: two to T plus one, the quicker that we can 482 00:26:10,119 --> 00:26:13,359 Speaker 1: actually have these trades finalized. I would actually reduce the 483 00:26:13,480 --> 00:26:17,120 Speaker 1: capital requirements of companies like robin Hood so that they 484 00:26:17,119 --> 00:26:20,280 Speaker 1: wouldn't have gotten into this collateral call in the first place. 485 00:26:20,320 --> 00:26:23,240 Speaker 1: I think we can look for policy solutions to catch 486 00:26:23,320 --> 00:26:26,320 Speaker 1: up to what technology is allowing us to do. I 487 00:26:26,320 --> 00:26:28,240 Speaker 1: think that's one of the big things that we need 488 00:26:28,280 --> 00:26:32,000 Speaker 1: to look at is remove some of this regulatory arbitrage 489 00:26:32,080 --> 00:26:34,239 Speaker 1: that companies are using. And we can do that by 490 00:26:34,280 --> 00:26:37,720 Speaker 1: getting our regulations catching up to what the technology is 491 00:26:37,760 --> 00:26:40,480 Speaker 1: allowing us to do. The sooner we allow these trades 492 00:26:40,520 --> 00:26:43,639 Speaker 1: to clear, the better off we're gonna be. Congressman Brian's Style, 493 00:26:43,720 --> 00:26:47,680 Speaker 1: Republican from Wisconsin. Thank you, sir for spending your Friday 494 00:26:47,880 --> 00:26:51,400 Speaker 1: afternoon with us. Coming up much more policy and politics. 495 00:26:51,440 --> 00:26:54,440 Speaker 1: This is Bloomberg A. We're going to do something a 496 00:26:54,520 --> 00:26:58,560 Speaker 1: little bit different right now. I'm Kevin Surili, Chief Washington 497 00:26:58,600 --> 00:27:02,000 Speaker 1: correspondent from Bloomberg TV and Radio. It's Friday. It's been 498 00:27:02,040 --> 00:27:05,960 Speaker 1: a week, huh. Bloomberg Politics contributors the All Star Policy 499 00:27:06,040 --> 00:27:09,600 Speaker 1: Team with me and Jeanie Schanz No, Rick Davis, I 500 00:27:09,640 --> 00:27:11,320 Speaker 1: want to talk about the pandemic, but I don't want 501 00:27:11,320 --> 00:27:13,639 Speaker 1: to talk about stimulus because they're gonna be fighting about 502 00:27:13,640 --> 00:27:16,920 Speaker 1: it all weekend, and the reporting hasn't changed that it's 503 00:27:16,960 --> 00:27:20,080 Speaker 1: ultimately likely gonna get past um and we'll cover it 504 00:27:20,119 --> 00:27:23,760 Speaker 1: on Monday, I promise. But there's been a candidly and 505 00:27:23,760 --> 00:27:25,880 Speaker 1: Bregg you mentioned this to me yesterday. It got me thinking, 506 00:27:25,880 --> 00:27:28,280 Speaker 1: and I agree with you that what's happening in the 507 00:27:28,359 --> 00:27:31,280 Speaker 1: cities and in the States is where all the action 508 00:27:31,359 --> 00:27:35,840 Speaker 1: is right now on on the vaccination front, on the 509 00:27:35,920 --> 00:27:39,880 Speaker 1: front for reopening. Just in the last hour, we got 510 00:27:39,920 --> 00:27:43,040 Speaker 1: this headline. One of our bosses, Charlie Valmer, puts it 511 00:27:43,080 --> 00:27:46,639 Speaker 1: in the group chat. He's a big baseball fan. California 512 00:27:46,760 --> 00:27:51,640 Speaker 1: ball parks and stadiums can begin reopening April first opening day. 513 00:27:52,280 --> 00:27:54,280 Speaker 1: Of course, they've got some limitations. You can't go get 514 00:27:54,320 --> 00:27:58,040 Speaker 1: popcorn or a hot dog, but the concessions will be closed, 515 00:27:58,040 --> 00:28:01,879 Speaker 1: but a couple of hundred people will be allowed in. 516 00:28:02,400 --> 00:28:05,040 Speaker 1: I mentioned this earlier. Broadways starting to reopen in April 517 00:28:05,080 --> 00:28:07,960 Speaker 1: as well. I mean there's a lot of optimism. Genie. 518 00:28:08,000 --> 00:28:12,760 Speaker 1: It's this headline on the Bloomberg terminal. US vaccinated half 519 00:28:13,320 --> 00:28:17,480 Speaker 1: of its senior citizens. The next half will be harder. 520 00:28:17,520 --> 00:28:20,639 Speaker 1: But more than half of Americans sixty five years old 521 00:28:20,640 --> 00:28:25,560 Speaker 1: and over have gotten a COVID nineteen vaccinations. That's pretty good, Jennie, 522 00:28:26,440 --> 00:28:28,679 Speaker 1: it is. And of course we've seen in the last 523 00:28:28,720 --> 00:28:32,719 Speaker 1: few days Texas and Mississippi lift their mask mandates and 524 00:28:32,920 --> 00:28:36,119 Speaker 1: reopened to one. And of course you you mentioned the 525 00:28:36,119 --> 00:28:39,680 Speaker 1: news about California just in the last hour, and of 526 00:28:39,680 --> 00:28:42,880 Speaker 1: course in response to some of this, we heard the President, 527 00:28:42,960 --> 00:28:46,920 Speaker 1: We've heard Anthony Fauci, but the President in particular say 528 00:28:46,960 --> 00:28:50,800 Speaker 1: this was what the Neanderthal thinking. I think was the 529 00:28:50,880 --> 00:28:54,080 Speaker 1: quote which which got a lot of discussion. But I 530 00:28:54,120 --> 00:28:56,720 Speaker 1: do see this as sort of a fight that we've 531 00:28:56,720 --> 00:28:59,760 Speaker 1: seen throughout the pandemic between what's happening at the federal 532 00:28:59,840 --> 00:29:01,760 Speaker 1: level and all of the action going on at the 533 00:29:01,800 --> 00:29:04,160 Speaker 1: state and local level. And you couple that with the 534 00:29:04,200 --> 00:29:06,920 Speaker 1: fact that the two governors of the two two of 535 00:29:06,960 --> 00:29:10,080 Speaker 1: the most populous Democratic states in California and New York, 536 00:29:10,240 --> 00:29:13,160 Speaker 1: under fire fur their handling of the pandemic, and the 537 00:29:13,200 --> 00:29:16,680 Speaker 1: Florida governor doing rather well. So we've seen something of 538 00:29:16,680 --> 00:29:20,040 Speaker 1: a switch in that regard as well. We've come along way. Folks. 539 00:29:20,200 --> 00:29:24,000 Speaker 1: Remember last March and all fifteen days it'll all be over. Nope, 540 00:29:24,120 --> 00:29:26,480 Speaker 1: it's been a lot longer than that. Rick, I want 541 00:29:26,480 --> 00:29:31,240 Speaker 1: to talk about Cuomo because on the Bloomberg Germinal, we've 542 00:29:31,240 --> 00:29:34,320 Speaker 1: got this report out. New York lawmakers approved bill to 543 00:29:34,400 --> 00:29:38,960 Speaker 1: strip Cuomo's pandemic era powers. New York lawmakers earlier today 544 00:29:38,960 --> 00:29:43,240 Speaker 1: it took the first step toward repealing pandemic era emergency 545 00:29:43,320 --> 00:29:48,200 Speaker 1: powers afforded to scandal plagued Governor Andrew Cuomo. The Senate 546 00:29:48,200 --> 00:29:50,840 Speaker 1: passed The state Senate passed a bill forty three to 547 00:29:50,960 --> 00:29:55,360 Speaker 1: twenty to revoke temporary powers given to Cuomo and March 548 00:29:56,000 --> 00:29:59,280 Speaker 1: that allowed him to supersede the legislator as well as 549 00:29:59,320 --> 00:30:03,400 Speaker 1: local laws, to issue hundreds of sweeping emergency directives on 550 00:30:03,560 --> 00:30:07,440 Speaker 1: everything from closing businesses and schools. It's de mandating the 551 00:30:07,560 --> 00:30:13,040 Speaker 1: use of masks. Wow, I mean, Governor Cuomo's powers really 552 00:30:13,800 --> 00:30:17,800 Speaker 1: getting smaller. Well it it's getting smaller, back to where 553 00:30:17,840 --> 00:30:20,960 Speaker 1: it was before the coronavirus, right. I mean, what what 554 00:30:21,040 --> 00:30:23,960 Speaker 1: we have to understand is that a lot of extraneous 555 00:30:24,000 --> 00:30:27,480 Speaker 1: measures and government were taken when fear gripped the country 556 00:30:27,520 --> 00:30:30,600 Speaker 1: over the fact that we were emerging into a pandemic, 557 00:30:30,800 --> 00:30:34,200 Speaker 1: and so state by state, in almost all fifty states, 558 00:30:34,720 --> 00:30:37,440 Speaker 1: governors were granted emergency power so there would be a 559 00:30:37,480 --> 00:30:41,280 Speaker 1: command and control of the state's response to COVID. Now 560 00:30:42,080 --> 00:30:44,000 Speaker 1: you can argue whether that worked out well or not, 561 00:30:44,160 --> 00:30:47,440 Speaker 1: and in each state has its own, uh, good stories 562 00:30:47,480 --> 00:30:50,840 Speaker 1: and bad stories. But but what you see consistent with 563 00:30:51,000 --> 00:30:53,920 Speaker 1: exactly what you and Jeanie were just talking about. Now 564 00:30:54,240 --> 00:30:56,880 Speaker 1: states are starting to look at and saying, look, this 565 00:30:56,960 --> 00:31:01,280 Speaker 1: is no longer an emergency situation where success fully inoculating 566 00:31:01,680 --> 00:31:04,760 Speaker 1: millions of people. You know, we have to get back 567 00:31:04,800 --> 00:31:07,440 Speaker 1: to school in order to ensure that our children are 568 00:31:07,560 --> 00:31:09,680 Speaker 1: educated and the parents can go back to work. And 569 00:31:09,720 --> 00:31:13,880 Speaker 1: so you see the reopening coming and uh, and so 570 00:31:13,920 --> 00:31:16,560 Speaker 1: we'll see where goes. I'm still I guess why would 571 00:31:16,600 --> 00:31:19,000 Speaker 1: you go to a baseball game if not to have 572 00:31:19,120 --> 00:31:24,360 Speaker 1: a hot dog? But I think Friday, I'm not well. 573 00:31:24,400 --> 00:31:26,440 Speaker 1: I broke that and they were feeding us in the 574 00:31:26,480 --> 00:31:29,720 Speaker 1: Bloomberg pantry this morning. I take a bite into my 575 00:31:29,760 --> 00:31:32,360 Speaker 1: turkey and egg and cheese on a biscuit, and I 576 00:31:32,400 --> 00:31:36,280 Speaker 1: thought it's lent Kevin, But oh well, Um, but I 577 00:31:36,320 --> 00:31:39,920 Speaker 1: think the politics of this, Rick Davis, and that's where 578 00:31:40,000 --> 00:31:43,160 Speaker 1: let's put on your political cap. Do you think that 579 00:31:43,240 --> 00:31:47,080 Speaker 1: there are governors like Governor Abbott that's see the political 580 00:31:47,120 --> 00:31:52,360 Speaker 1: advantage and being first to reopen, Well, I think Abbott. 581 00:31:52,400 --> 00:31:57,360 Speaker 1: Governor Abbitt is a particularly interesting situation because he needed 582 00:31:57,360 --> 00:31:59,440 Speaker 1: to change the topic, right. I mean, he had a 583 00:31:59,520 --> 00:32:04,680 Speaker 1: devastay a response to uh cold snap, whether people out 584 00:32:04,680 --> 00:32:08,520 Speaker 1: of power couldn't get water. I mean, really a complete 585 00:32:08,560 --> 00:32:11,360 Speaker 1: and utter failure of leadership. So he was looking for 586 00:32:11,400 --> 00:32:14,720 Speaker 1: a page turner and and probably saw the opportunity to 587 00:32:14,720 --> 00:32:17,240 Speaker 1: get ahead of a reopening in a state that has 588 00:32:17,320 --> 00:32:21,680 Speaker 1: never you know, anecdotally i've heard adhered very strictly to 589 00:32:21,800 --> 00:32:24,720 Speaker 1: a mask mandate to begin with. So he was he was, 590 00:32:24,760 --> 00:32:27,760 Speaker 1: I think, taking advantage of the cycle. But you'll see 591 00:32:28,200 --> 00:32:30,440 Speaker 1: as we go along, and the examples you use are 592 00:32:30,480 --> 00:32:33,840 Speaker 1: good ones. Uh, more and more governors are going to start, 593 00:32:33,960 --> 00:32:37,160 Speaker 1: you know, opening up their businesses. Uh. We've talked a 594 00:32:37,240 --> 00:32:41,400 Speaker 1: lot about job loss, most of it in the service sector. Uh. 595 00:32:41,440 --> 00:32:45,040 Speaker 1: It can bounce back if if restaurants and stores are 596 00:32:45,040 --> 00:32:48,920 Speaker 1: allowed to reopen. Uh. And so when you see that 597 00:32:49,000 --> 00:32:52,240 Speaker 1: starting to happen, I see it being contagious, right, not 598 00:32:52,280 --> 00:32:55,160 Speaker 1: like a virus, but like something positive that could be 599 00:32:55,200 --> 00:32:58,320 Speaker 1: happening around the States. I couldn't hear anymore. And I 600 00:32:58,320 --> 00:33:01,080 Speaker 1: think people are ready for that. And here in Washington, 601 00:33:01,160 --> 00:33:06,360 Speaker 1: d C. Where I've been just anecdotally, it's they have 602 00:33:06,440 --> 00:33:10,080 Speaker 1: not lifted really any restrictions. It's and I don't know 603 00:33:10,120 --> 00:33:12,360 Speaker 1: when they're going to do that. And the word on 604 00:33:12,400 --> 00:33:15,959 Speaker 1: the street, for lack of a better reporting tone, is 605 00:33:16,080 --> 00:33:18,160 Speaker 1: that it has a lot to do with January six. 606 00:33:18,640 --> 00:33:20,840 Speaker 1: Uh And and how long did the National Guard is 607 00:33:21,080 --> 00:33:24,200 Speaker 1: going to continue to stay here? Jeannie? Uh? You know, 608 00:33:24,240 --> 00:33:26,239 Speaker 1: I I want to get your thoughts. I mean, in 609 00:33:26,360 --> 00:33:28,960 Speaker 1: terms of the Democrats that you speak with, do they 610 00:33:29,000 --> 00:33:31,240 Speaker 1: sense a risk and not getting on board with three 611 00:33:31,240 --> 00:33:33,040 Speaker 1: opening because I know a lot of Democrats that I 612 00:33:33,080 --> 00:33:36,320 Speaker 1: interview are getting sick of these restrictions as well. I 613 00:33:36,360 --> 00:33:38,880 Speaker 1: think everybody is sick of them. But I do think 614 00:33:38,960 --> 00:33:41,560 Speaker 1: there is a huge concern out there. And we heard 615 00:33:41,560 --> 00:33:45,840 Speaker 1: this reflected particularly by Anthony Fauci and and other people 616 00:33:45,880 --> 00:33:48,360 Speaker 1: in the administration who are coming to it from the 617 00:33:48,400 --> 00:33:53,320 Speaker 1: health policy perspective, that we still face challenges here just 618 00:33:53,560 --> 00:33:56,920 Speaker 1: because you've been vaccinated for instance, which is a great thing, 619 00:33:57,280 --> 00:33:59,880 Speaker 1: doesn't mean you may not be susceptible to these very 620 00:34:00,200 --> 00:34:03,719 Speaker 1: that are out there. So I think Democrats in particular 621 00:34:03,800 --> 00:34:05,880 Speaker 1: want to take a little bit more of a cautious 622 00:34:05,880 --> 00:34:09,719 Speaker 1: approach in terms of this reopening. And we're getting sort 623 00:34:09,760 --> 00:34:14,160 Speaker 1: of atypical back and forth between Democrats and Republicans on 624 00:34:14,280 --> 00:34:16,560 Speaker 1: where these decisions should be made at the state and 625 00:34:16,640 --> 00:34:19,240 Speaker 1: local level or at the federal level. And of course, 626 00:34:19,480 --> 00:34:23,280 Speaker 1: again we're also getting a lot of criticism of democratic governors. 627 00:34:23,400 --> 00:34:26,440 Speaker 1: Let's not forget that. Just yesterday the New York Times, 628 00:34:26,440 --> 00:34:30,040 Speaker 1: the Wall Street Journal and others reporting that Governor Cuomo 629 00:34:30,040 --> 00:34:33,480 Speaker 1: in his administration they doctored numbers and the number of 630 00:34:33,520 --> 00:34:36,839 Speaker 1: people dead in these nursing homes here I'm in New York. 631 00:34:36,920 --> 00:34:40,400 Speaker 1: That's fifteen thousand people. You know, that is a huge, 632 00:34:40,800 --> 00:34:45,320 Speaker 1: huge crisis, and we don't know that hits his legacy, 633 00:34:45,320 --> 00:34:47,080 Speaker 1: and we don't know yet what's gonna happen. He says 634 00:34:47,080 --> 00:34:49,239 Speaker 1: he won't resign, but I think we're going to hear 635 00:34:49,280 --> 00:34:52,840 Speaker 1: more of that as we move forward, hopefully towards, you know, 636 00:34:52,880 --> 00:34:54,320 Speaker 1: seeing the light at the end of the tunnel. And 637 00:34:54,440 --> 00:34:57,520 Speaker 1: I shouldn't say, but the questions there too, that they're 638 00:34:57,560 --> 00:35:00,680 Speaker 1: going to have to answer absolutely and I think objectively 639 00:35:00,719 --> 00:35:03,920 Speaker 1: at people in the media can can say that. All right, 640 00:35:04,239 --> 00:35:06,200 Speaker 1: let's send on an upbeat note, but let me plug. 641 00:35:06,239 --> 00:35:09,680 Speaker 1: On Monday's show, We've got Senator Joanie Ernst, a Republican 642 00:35:09,960 --> 00:35:14,840 Speaker 1: from uh Iowa, and then uh we're gonna be talking 643 00:35:15,120 --> 00:35:18,560 Speaker 1: about a wide ranging host of of different policy issues 644 00:35:18,560 --> 00:35:22,080 Speaker 1: on the ethanol front, on the energy front. Senator Shelley 645 00:35:22,080 --> 00:35:25,040 Speaker 1: Moore Capital is gonna join me on Tuesday. So we've 646 00:35:25,040 --> 00:35:27,239 Speaker 1: got some some great lawmakers for the first half of 647 00:35:27,320 --> 00:35:31,160 Speaker 1: next week. What's your word of the week? Rick Davis, Well, 648 00:35:31,200 --> 00:35:34,400 Speaker 1: I think we can all safely assume that the Q 649 00:35:34,640 --> 00:35:38,960 Speaker 1: and On conspiracy theory that was supposed to put Trump 650 00:35:39,000 --> 00:35:42,160 Speaker 1: back in office on March four has been completely and 651 00:35:42,280 --> 00:35:47,000 Speaker 1: utterly debunked. The razor wired Dan, Let's lose defenses, let's 652 00:35:47,000 --> 00:35:49,560 Speaker 1: go back to normal in Washington. You know, I'm gonna okay, 653 00:35:49,600 --> 00:35:51,840 Speaker 1: I was thinking about this, and again it's Friday, so 654 00:35:51,880 --> 00:35:53,960 Speaker 1: I'm gonna keV you're still on, are buddy? So just 655 00:35:53,960 --> 00:35:55,960 Speaker 1: because you're talking to you, it's a Rick and Genie, 656 00:35:56,160 --> 00:35:59,960 Speaker 1: But I take it down provided that you can assure 657 00:36:00,000 --> 00:36:05,360 Speaker 1: are every staffer and Capitol Hill worker in the cafeterias 658 00:36:05,360 --> 00:36:09,320 Speaker 1: and everyone who works in that ecosystem is safe. And 659 00:36:09,360 --> 00:36:12,120 Speaker 1: I don't know, I mean, you know this, Rick, there 660 00:36:12,120 --> 00:36:14,560 Speaker 1: are a lot of office buildings on that campus. You're 661 00:36:14,560 --> 00:36:19,120 Speaker 1: following me. Yeah. The primary job of the Capitol Police 662 00:36:19,160 --> 00:36:21,120 Speaker 1: is to ensure the security of the members and the 663 00:36:21,360 --> 00:36:23,879 Speaker 1: and the staff who support them, and I think there 664 00:36:24,080 --> 00:36:26,319 Speaker 1: is a new focus on their ability to do that. 665 00:36:26,560 --> 00:36:30,480 Speaker 1: But for Heaven's sakes, we cannot live where conspiracy theories 666 00:36:30,520 --> 00:36:34,400 Speaker 1: dictate our actions. Yeah, all right, it's uh Marches Women's 667 00:36:34,440 --> 00:36:36,400 Speaker 1: History Month. The Bloomberg Radio is looking back at some 668 00:36:36,440 --> 00:36:38,600 Speaker 1: of those who played a vital role in American history. 669 00:36:38,640 --> 00:36:41,799 Speaker 1: Here with today's installment is Bloomberg's pritty to young on 670 00:36:41,880 --> 00:36:45,440 Speaker 1: this day in Women's history. In nineteen thirty one, Geraldine 671 00:36:45,480 --> 00:36:48,960 Speaker 1: Cobb is born. She's the first woman to pass qualifying 672 00:36:49,040 --> 00:36:53,080 Speaker 1: exams for astronaut training. She got hooked on aviation at 673 00:36:53,080 --> 00:36:55,799 Speaker 1: twelve years old after her first flight on a by 674 00:36:55,880 --> 00:36:59,359 Speaker 1: wing airplane. Cobb received her commercial pilot's license on her 675 00:36:59,400 --> 00:37:03,120 Speaker 1: eighteenth day, but she had difficulty finding work as a pilot, 676 00:37:03,520 --> 00:37:06,680 Speaker 1: so she took on less desirable jobs like crop dusting, 677 00:37:07,160 --> 00:37:10,719 Speaker 1: but she eventually became a pilot and several designations later, 678 00:37:10,760 --> 00:37:13,759 Speaker 1: in nineteen fifty nine, cobb was the first woman to 679 00:37:13,880 --> 00:37:18,600 Speaker 1: undergo the grueling Mercury Astronauts selection tests, which she passed 680 00:37:18,640 --> 00:37:22,160 Speaker 1: with flying colors, but she was denied entrance into the 681 00:37:22,200 --> 00:37:26,239 Speaker 1: program because she had no military jet experience. Cobbs spent 682 00:37:26,320 --> 00:37:29,880 Speaker 1: the next three decades as a missionary pilot in the Amazon, 683 00:37:30,280 --> 00:37:34,160 Speaker 1: which won her nomination for a Nobel Peace Prize. That's 684 00:37:34,200 --> 00:37:39,360 Speaker 1: today in women's history. I'm Nita Young, Bloomberg Radio Grad Weekend. Everybody, 685 00:37:39,360 --> 00:37:41,560 Speaker 1: I'm Kevin SI REALI this is Bloomberg.